Chinese domestic iron ore market sustained dull last week. Imported iron ore spot market boomed stimulated by jump of futures market at the beginning of last week. Market sentiment also boosted by the rising quotes and mills were active in procurement, which also lowered stocks at ports. However, after steelmakers finished restocks, enquiries in market would surely dip and stimulation from RRR cut might not be that enough to pick up the market.
Source: hellenicshippingnews